Needham Bank
Climate Impact & Sustainability Data (2018)
Reporting Period: 2018
Environmental Metrics
ESG Focus Areas
- Community Reinvestment
- Community Development
- Education
- Customer Service
- Employee Well-being
Social Achievements
- Provided 7,363 volunteer hours to 193 organizations in Eastern Massachusetts.
- Sponsored a capacity-building workshop for local charitable organizations.
- Continued support for METCO program despite state funding cuts.
- Extended support to Tenacity and Horizons programs.
- Increased outreach to younger demographic, with 34% of checking accounts opened last fiscal year by Millennials.
Climate Goals & Targets
Environmental Challenges
- Attracting younger clients
- Competition from larger banks
Mitigation Strategies
- Strategic effort to reach out to younger demographic
- Redesigned products and services to be competitive
- Partnered with tech resources
- Emphasized relationship-driven approach over transaction-driven approach